We are pleased to present below all posts archived in 'October 2019'. If you still can't find what you are looking for, try using the search box.
With the banks tightening up following the Banking Royal Commission, money is more difficult to come by than at any time in recent memory. This is proving a challenge for homeowners who want to sell but need to do a bit of work on their house before listing for sale.
To solve the problem, the building industry has come up with a novel new reno financing option that sees a builder funding home improvements.
The catch is that the homeowner has just 20 days to list the property for sale once the reno is done, and up to 6 months to sell it. This period is interest free, but if the property fails to sell, interest of 15% applies.
It’s an interesting new scheme designed to get around the difficulty of getting a loan top-up from the banks, and if all goes well it’s a great solution. But owner beware the interest charge if the property fails to sell!
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